AFS has announced its partnership with UAE’s Zand Bank in order to provide fintechs processing services and the latter’s BIN Sponsorship and banking facilities. The collaboration is expected to provide emerging players with the possibility to issue prepaid cards and other banking solutions, prioritising security and efficiency.

Fintechs that are looking for BIN sponsorship will be enabled to access AFS’s latest card processing capabilities, through Zand’s BIN with AFS. This process will facilitate quicker market entry, while also supporting the rapid development of improved and safe financial products in the region. More information on the announcement Arab Financial Services was developed in order to provide payment products and expertise to banks and merchant groups, while also delivering customised services in an increasingly dynamic ecosystem.

Zand Bank is a fully licensed institution that provides its clients with the capability to unlock new opportunities, foster sustainable growth, and drive a positive impact in the evolving digital economy. The initiative underscores Zand and AFS’s shared commitment to advancing the overall digital economy and improving customer satisfaction. Both Zand Bank and Arab Financial Services will continue to focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industry as well.

The collaboration aims to also enable fintechs to focus on growth and customer acquisition. By delivering the necessary infrastructure and compliance framework, Zand Bank and AFS are set to lower the barriers to entry for new financial players, as well as drive optimised innovation and inclusivity in the financial solutions industry. At the same time, by offering access to essential payment infrastructure, Zand and AFS will provide fintechs with the possibility to accelerate their development and deliver improved services, thereby fostering a more competitive market.

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